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Penrose, Edith Tilton, 1914-96 (B3) After an education at Johns Hopkins University and various academic posts, including one in Baghdad, Penrose was Professor of Economics at the School of Oriental and African Studies, University of London, from 1964 to 1979. Her most famous contribution to economics is her theory of the growth of the firm. It had the optimistic theme that the human and material resources managed by a firm can be used to achieve its limitless expansion through product and market diversification and the recruitment of additional high-level managers. Her other works included books on the international PATENr system, the international petroleum industry and Middle East oiL <br /><em>Reference</em><br />Penrose, E.T. (1959) The Theory of the Growth of the Firm, Oxford: Basil BlackwelL
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<strong>Financial Aid Officer (FAO)</strong> – A staff member at an eligible school who administers financial aid programs.
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